EverBank in Talks to Sell Itself for $2.5 Billion

EverBank Financial in Jacksonville, Fla., confirmed that it is in talks to sell itself.

The $27.4 billion-asset company said in a press release Tuesday that it is in "advanced negotiations" with an unnamed buyer to sell for $19.50 a share in cash. Based on EverBank's outstanding shares at June 30, the deal would be valued at $2.5 billion.

EverBank said the exclusivity period with the buyer is set to expire on Aug. 8.

The company also reported that its second-quarter earnings fell by 51% from a year earlier, to $19 million. The quarter's biggest hit was a $37 million impairment of mortgage servicing rights.

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